Baird Financial Group Inc. Has $38.70 Million Holdings in Curtiss-Wright Corporation $CW

Key Points

• Baird Financial Group reduced its Curtiss-Wright stake by 37.7% in the second quarter, selling 30,961 shares and retaining 51,077 shares worth approximately $38.7 million. Institutional investors collectively own 82.71% of the company.
• Analysts maintain a generally cautious view, with three Buy ratings and four Hold ratings producing a consensus rating of Hold and an average price target of $765.71.
• Curtiss-Wright reported quarterly EPS of $3.72, beating estimates by $0.10, while revenue rose 5.4% year over year to $924.01 million. The stock opened at $559.62, well below its 52-week high of $808.16.

Baird Financial Group Inc. decreased its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,077 shares of the aerospace company's stock after selling 30,961 shares during the quarter. Baird Financial Group Inc. owned 0.14% of Curtiss-Wright worth $38,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of Curtiss-Wright by 96,633.6% in the 2nd quarter. California State Teachers Retirement System now owns 40,844,780 shares of the aerospace company's stock valued at $30,950,540,000 after acquiring an additional 40,802,556 shares during the last quarter. BlackRock Inc. bought a new position in Curtiss-Wright during the 2nd quarter worth approximately $3,448,649,000. Norges Bank acquired a new position in Curtiss-Wright during the fourth quarter valued at approximately $290,633,000. Primecap Management Co. CA acquired a new position in Curtiss-Wright during the second quarter valued at approximately $390,106,000. Finally, Corient Private Wealth LLC increased its stake in Curtiss-Wright by 6,169.8% in the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock valued at $224,108,000 after purchasing an additional 400,047 shares in the last quarter. Institutional investors own 82.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a report on Wednesday, August 12th. Stifel Nicolaus boosted their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. Citigroup increased their price target on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Finally, Piper Sandler assumed coverage on Curtiss-Wright in a research report on Wednesday, September 2nd. They set a "neutral" rating and a $665.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $765.71.

Curtiss-Wright Stock Down 1.0%

NYSE:CW opened at $559.62 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The company has a market cap of $20.67 billion, a PE ratio of 38.51, a PEG ratio of 2.55 and a beta of 0.84. Curtiss-Wright Corporation has a 52-week low of $490.66 and a 52-week high of $808.16. The stock has a 50-day simple moving average of $683.87 and a 200 day simple moving average of $708.04.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm had revenue of $924.01 million for the quarter, compared to analysts' expectations of $926.17 million. During the same quarter in the previous year, the business posted $3.23 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Watts sold 1,035 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president owned 2,736 shares of the company's stock, valued at $1,694,842.56. The trade was a 27.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the transaction, the director owned 1,414 shares of the company's stock, valued at $843,790.36. The trade was a 6.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company's stock.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.

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